Ultragenyx Pharmaceutical (NASDAQ:RARE) Price Target Raised to $22.00

Ultragenyx Pharmaceutical (NASDAQ:RARE) had its target price upped by Morgan Stanley from $20.00 to $22.00 in a research report sent to investors on Wednesday,Benzinga reports. The brokerage currently has an equal weight rating on the biopharmaceutical company’s stock.

A number of other equities research analysts also recently commented on RARE. Jefferies Financial Group lowered their price target on shares of Ultragenyx Pharmaceutical from $77.00 to $28.00 and set a “buy” rating for the company in a report on Thursday, September 3rd. Robert W. Baird downgraded shares of Ultragenyx Pharmaceutical from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $40.00 to $16.00 in a research note on Thursday, September 3rd. Citigroup raised their target price on shares of Ultragenyx Pharmaceutical from $31.00 to $32.00 and gave the stock a “buy” rating in a research report on Friday, September 18th. TD Cowen lowered their target price on shares of Ultragenyx Pharmaceutical from $49.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, September 3rd. Finally, Cantor Fitzgerald boosted their price target on Ultragenyx Pharmaceutical from $33.00 to $39.00 and gave the company an “overweight” rating in a report on Friday, September 18th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $29.79.

Ultragenyx Pharmaceutical Trading Down 0.9%

Shares of NASDAQ RARE traded down $0.14 during trading on Wednesday, reaching $15.43. The company had a trading volume of 4,049,110 shares, compared to its average volume of 3,379,657. Ultragenyx Pharmaceutical has a twelve month low of $12.73 and a twelve month high of $39.89. The stock has a market capitalization of $1.52 billion, a PE ratio of -2.97 and a beta of 0.37. The stock has a 50-day moving average price of $16.02 and a two-hundred day moving average price of $22.71.

Ultragenyx Pharmaceutical (NASDAQ:RARE) last posted its quarterly earnings data on Tuesday, November 3rd. The biopharmaceutical company reported ($1.16) EPS for the quarter, missing analysts’ consensus estimates of ($1.10) by ($0.06). The company had revenue of $173.00 million during the quarter, compared to analyst estimates of $182.49 million. The firm’s revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($1.81) earnings per share. On average, sell-side analysts predict that Ultragenyx Pharmaceutical will post -3.45 EPS for the current year.

Insider Buying and Selling

In other Ultragenyx Pharmaceutical news, CFO Howard Horn sold 7,066 shares of the stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $15.27, for a total transaction of $107,897.82. Following the transaction, the chief financial officer owned 89,229 shares of the company’s stock, valued at $1,362,526.83. This trade represents a 7.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 8,510 shares of company stock worth $127,561 over the last ninety days. Corporate insiders own 5.20% of the company’s stock.

Institutional Trading of Ultragenyx Pharmaceutical

Institutional investors and hedge funds have recently made changes to their positions in the company. Allworth Financial LP raised its holdings in shares of Ultragenyx Pharmaceutical by 18.9% in the 3rd quarter. Allworth Financial LP now owns 5,588 shares of the biopharmaceutical company’s stock worth $84,000 after purchasing an additional 889 shares during the period. Russell Investments Group Ltd. grew its holdings in shares of Ultragenyx Pharmaceutical by 20.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 944,240 shares of the biopharmaceutical company’s stock worth $14,256,000 after purchasing an additional 160,141 shares during the period. Jefferies Financial Group Inc. grew its holdings in shares of Ultragenyx Pharmaceutical by 44.1% during the 3rd quarter. Jefferies Financial Group Inc. now owns 1,339,814 shares of the biopharmaceutical company’s stock worth $20,137,000 after purchasing an additional 410,188 shares during the period. Fulcrum Asset Management LLP increased its position in Ultragenyx Pharmaceutical by 4,543.8% during the 3rd quarter. Fulcrum Asset Management LLP now owns 5,201 shares of the biopharmaceutical company’s stock worth $80,000 after purchasing an additional 5,089 shares in the last quarter. Finally, Commonwealth Equity Services LLC purchased a new position in Ultragenyx Pharmaceutical in the third quarter valued at approximately $661,000. 97.67% of the stock is currently owned by institutional investors and hedge funds.

Ultragenyx Pharmaceutical News Summary

Here are the key news stories impacting Ultragenyx Pharmaceutical this week:

• Positive Sentiment: The UK medicines regulator has accepted Ultragenyx’s marketing application for rebi-vec (UX111), its gene therapy for Sanfilippo syndrome Type A, and is reviewing it. This is a step toward a possible UK authorization, but the therapy remains investigational and has not been approved. Company announcement
• Positive Sentiment: H.C. Wainwright and TD Cowen both reiterated Buy ratings, signaling that these analysts see potential despite recent price-target reductions. H.C. Wainwright rating TD Cowen rating
• Negative Sentiment: Several firms have lowered their price targets, reflecting more restrained expectations. Canaccord cut its target from $39 to $34, Citi reduced its target from $32 to $22, and Barclays lowered its target from $35 to $32; all retained Buy or Overweight ratings. The revisions may weigh on sentiment even as analysts remain positive on the shares. Canaccord target revision Citi target revision

Ultragenyx Pharmaceutical Company Profile

Ultragenyx Pharmaceutical Inc is a biopharmaceutical company focused on developing and commercializing treatments for rare and ultra-rare diseases. The company concentrates on conditions with significant unmet medical needs, including genetic, metabolic and endocrine disorders, and uses biologics, small molecules and gene therapy approaches in its research and development programs.

Ultragenyx’s commercial portfolio includes Crysvita (burosumab), a treatment for X-linked hypophosphatemia and related disorders; Mepsevii (vestronidase alfa), an enzyme replacement therapy for mucopolysaccharidosis VII; and Dojolvi (triheptanoin), a therapy for long-chain fatty acid oxidation disorders.